Limeade has pulled in $5 million in fresh capital from TVC Capital, money that the six-year-old Bellevue company will use to more than double its staff of 35 people in the coming year.
Led by former Intuit marketing vet Henry Albrecht, Limeade develops online corporate wellness programs designed to maker employees healthier and happier. Employers pay a few dollars per month for the service, which is designed to cut down on health care costs.
“Companies are using Limeade to assess the health and well-being of their workforces, and then engage them in fun, social, mobile improvement programs,” explains Albrecht. “And increasingly, employers are using Limeade to align the financial incentives of employers and employees. We have found that employers who commit to programs like this can have 90 percent of their employees participate, and they can save millions on missed work and healthcare costs.”
Limeade is similar to EveryMove, a graduate of TechStars Seattle that earlier this year raised cash for what co-founder Russell Benaroya described as a “mileage rewards program for health.”
Both use game mechanics to encourage employees to engage in a healthier lifestyle, from exercise to a proper diet.
Albrecht said that they’ve had success adding customers because they bring an irreverent and game-like approach to what “has typically been a very dry, clinical and even antagonistic insurance-focused market.”
“Employers want simple, engaging programs that reflect and amplify their unique cultures, vibes and strategies — not just one-size-fits-all approaches,” he said. “They also want to know that the innovation will be there next month and next year.”
Customers using Limeade include Jamba Juice, Cincinnati Children’s Hospital and REI. It has achieved more than 100 percent revenue growth in each of the past three years.
As a result of the latest funding round, TVC Capital’s Steven Hamerslag has joined the board of Limeade. Total funding in the company now stands at $8.5 million.
Previously on GeekWire: Limeade lands deal with Swedish hospital for wellness program